BHP shuts down Australian coal mines over high national royalties

BHP Billiton Group Co., Ltd. will close its Salaginan Coal Mine in Queensland and lay off about 750 employees as high state mining fees and a weak market environment make low-profit operations unsustainable. The coal mine is a joint venture of BHP Billiton and Mitsubishi, which holds a 50% stake in each, and will enter the maintenance stage from November. Other assets of BHP Billiton-Mitsubishi Alliance are not affected.